12th Oct 2026 15:11
(Alliance News) - Thruvision Group PLC on Monday left full year revenue expectations unchanged backed by a strong order book that it said provides "good revenue visibility".
The Abingdon, England-based provider of walk-through people-screening technology said revenue in the six months ended September 30 was GBP2.6 million, unchanged from the year prior, and in line with board expectations.
In a trading update, Thruvision said order backlog has increased significantly, and as of September 30 stood at was GBP2.6 million, multiplied from GBP200,000 a year ago.
This provides "good revenue visibility" for the second half of the financial year during which the current order backlog is expected to be delivered, the firm said.
The cash balance as of October 9 was GBP1.6 million, down from GBP2.0 million as at March 31.
Thruvision said it has secured a number of strategically important contract wins during the period and that all markets experienced good order "traction", with particularly encouraging progress through its strategic partner network, which contributed almost 60% of first half revenue.
"The group has a strong pipeline of sales opportunities reflecting our increased sales and marketing activities to support lead generation, as well as the continued development of relationships with new and existing partners. The hiring of three new sales managers in the USA and UK at the start of the period is already contributing to increased sales activity and pipeline development," the firm added.
Chief Executive Victoria Balchin commented: "With a significantly increased order backlog and a strong sales pipeline, we enter the second half with good visibility and confidence in our ability to execute."
Thruvision left full year revenue expectations remain unchanged at GBP8.0 million, which would be up a third from GBP6.0 million in the financial year ended March 31, 2026.
Shares in Thruvision were down 11% at 2.01 pence each in London on Monday.
By Jeremy Cutler, Alliance News reporter
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